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I'm not really feeling the whole "Hunger Games" ending so soon vibe, ya know? Just needs a tweak in the rules, and we're good to go. But hey, if it does end, it'd be awesome for the Fall 2018 and Spring 2021 applicants! They'd get bombarded with notifications to submit documents, which would totally up their chances of getting in.
These apartments can’t be offered to the folks on the 2021 lottery list, because these prices are too high. But maybe the 2018 lottery.
I feel: Stuytown had a stash of apartments hidden away, intending to release them gradually Hunger Games-style. But many people complained about it. After losing a recent lawsuit, they changed their strategy. Now, they're trying to allocate as many of these stored apartments as possible to applicants from 2018 and 2021. Just trying to sort out the mess from hoarding those apartments.
446 E 20th Apt 0MC, first listed on 06/29/2023, second listing on 03/06/2024, and third listing on 03/28/2024. Its location is not optimal, and the price is relatively high.
446 E 20th Apt 0MC, first listed on 06/29/2023, second listing on 03/06/2024, and third listing on 03/28/2024. Its location is not optimal, and the price is relatively high.
As we can see from the awesome spreadsheet that themaki created and maintains, below, many apartments are offered again and again. One was offered nine times! And it looked really nice to me, with a beautiful location on the Oval. Many of the repeaters are perfectly lovely units, but as you note, some have deficits.
The one above, 446 E 20th Apt 0MC, is in a good location within the complex. It is on the ground floor, which is certainly a drawback, but it is not directly on a path. Rather, it's set back amid a planted area, and the unit faces a playground that I have found to be usually quiet. And yes, it is not a bargain. If it had been $1,000 cheaper, it would have been snapped up in a minute.
Still, it is less than the cheapest one-bedroom on the "regular" website today, $4,383.
As we can see from the awesome spreadsheet that themaki created and maintains, below, many apartments are offered again and again. One was offered nine times! And it looked really nice to me, with a beautiful location on the Oval. Many of the repeaters are perfectly lovely units, but as you note, some have deficits.
The one above, 446 E 20th Apt 0MC, is in a good location within the complex. It is on the ground floor, which is certainly a drawback, but it is not directly on a path. Rather, it's set back amid a planted area, and the unit faces a playground that I have found to be usually quiet. And yes, it is not a bargain. If it had been $1,000 cheaper, it would have been snapped up in a minute.
Still, it is less than the cheapest one-bedroom on the "regular" website today, $4,383.
The issue with this hunger-games style system isn't so much a supply/demand problem in NYC, but rather, one within the structure of affordable housing programs. Stuytown can offer these apartments at the same rents on their regular website, without income restrictions. But then they won't credit for it with the city (they probably have some amount of income restricted they must rent out to get favorable tax breaks). But the income restrictions are not actually that easy to meet. Almost everyone I know with young kids in a lottery unit only qualified because they had some temporary dip in their income at the time of the application. It sounds ridiculous to say this, but a family of 4, especially with 2 young kids requiring childcare, a max income of 220K (pretax) living in stuytown is actually not easy to do. And so the average rents of $4500 for the 2BR on the spreadsheet (i'm ballparking) is still very hard for a family survive, and that's the maximum income threshold. Saving commentary on cost of living in this city for another forum, but in case you guys are unfamiliar with the insane costs of childcare in this neighborhood, the cheapest daycare around here is 3000 per month, for two kids annually that's 70K. Add that to the rent and there goes all your post tax money.
People need the housing, the units exist, nobody seems to want to rent them long-term at their current rates, and yet..!
I just checked the Google spreadsheet organized by themaki, and there's a mistake in one entry. themaki listed the units released on June 29, 2023, as "444," but the actual number of units released was "446."
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